Chagee (NASDAQ:CHA) Upgraded to “Strong-Buy” at Wall Street Zen

Chagee (NASDAQ:CHA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Morgan Stanley reissued an “overweight” rating and set a $15.50 target price on shares of Chagee in a research note on Friday, May 29th. JPMorgan Chase & Co. raised shares of Chagee from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. Finally, CLSA began coverage on shares of Chagee in a research note on Sunday, May 31st. They set a “hold” rating and a $10.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.17.

Chagee Stock Performance

Shares of NASDAQ:CHA opened at $11.54 on Friday. Chagee has a one year low of $8.98 and a one year high of $33.69. The stock has a fifty day moving average of $10.48 and a 200-day moving average of $11.54. The company has a market capitalization of $2.12 billion, a PE ratio of 16.49 and a beta of 1.73.

Hedge Funds Weigh In On Chagee

A number of hedge funds have recently modified their holdings of CHA. Fosun International Ltd increased its stake in shares of Chagee by 19,295.0% in the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Chagee in the third quarter worth $46,150,000. UBS Group AG increased its stake in shares of Chagee by 212.5% in the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after acquiring an additional 669,583 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Chagee in the fourth quarter worth $5,407,000. Finally, Jane Street Group LLC increased its stake in shares of Chagee by 2,237.0% in the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock worth $5,113,000 after acquiring an additional 420,828 shares during the last quarter.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees. “Quality, Health, and Convenience” is the guiding principle of how we make our products.